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Republic of Palau Partners with Ripple to Develop Digital Currency Strategy


RobertHarpool
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1 hour ago, flairxrp said:

CBDC We will absolute control and have the technology to enforece that.

 

Checkout Whitney as well she dropping bombs on her website.

Holy shit, the comments on that tweet.

Edited by wojake
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4 hours ago, Julian_Williams said:

Bhutan, now Palau,  FIs adopted ODL before the big banks.  Small countries go digital before big countries.

Exactly!!! I'm reading so many comments on Twitter about how this partnership is "meaningless" "insignificant" and "laughable." However, it's like you alluded to. Smaller countries are more nimble and have a lower bar entry point regarding the adoption of new financial technology/platform. Also, from the Ripple Insights article, it seems that Ripple and Palau have been working on this USD-backed stable coin for sometime for the go-live date to be the first half of 2022.

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32 minutes ago, King34Maine said:

Exactly!!! I'm reading so many comments on Twitter about how this partnership is "meaningless" "insignificant" and "laughable." However, it's like you alluded to. Smaller countries are more nimble and have a lower bar entry point regarding the adoption of new financial technology/platform. Also, from the Ripple Insights article, it seems that Ripple and Palau have been working on this USD-backed stable coin for sometime for the go-live date to be the first half of 2022.

It's about getting beyond Proof of Concept now, and I think this approach is a good way to do it. 

QBRY.gif

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3 hours ago, jn_r said:

Good point .. Bit edgy on the regulation also, how would SEC feel about that  ;-)

Is the dollar a security? Does the SEC have jurisdiction over other countries?

Several countries either use the US dollar or peg their currency to the dollar. The US has no principle right to stop them. They, of course, can come down hard on them politically, economically, and military if they so choose. But that would be an exercise of power based on a whim. I would expect that going after an itty-bitty island nation would not be a wise move for the super power who is already struggling to maintain its esteem in the eyes of the world.

On the other hand, Palau is probably dependent on the US and would give up if the US looked at them funny. But if they want to be renegades and get in on the stablecoin game, I'd bet their government-backed coin could be a top-5 stablecoin by market cap within 6 months.

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